More automakers expected to jump on the EV bandwagon
The Excise Department is expecting more automakers to sign a memorandum of understanding (MoU) to promote the production and use of electric vehicles (EV) in Thailand after two EV manufacturers – Great Wall Motor (GWM) Manufacturing Ltd and MG Sales Thailand Ltd – on Monday inked the deal with the department.
“Since February 15, the government has approved tax reduction and subsidy of THB70,000 to THB150,000 to buyers of battery electric vehicles [BEVs], depending on the battery size, in a bid to promote the use of EVs in Thailand, which will help reduce air pollution and the reliance of fossil fuel,” said Lavaron Sangsnit, the department's director-general.
“Besides GWM and MG, other manufacturers who have expressed their interest in joining the campaign include Mercedes Benz, BMW, Toyota, Honda, Mitsubishi, Nissan and Foxconn, a Chinese automaker under the brand Neta,” he added.
Lavaron said that after GWM and MG signed the MoU to promote EVs in Thailand, they both agreed to bring three new EV models to the Thai market, namely the ORA Good Cat 500 Ultra, ORA Good Cat 400 Tech, and ORA Good Cat 400 Pro from GWM, and the MG ZS EV, MG EP and MG EP Plus from MG.
“The six new models will be unveiled at the Bangkok International Motor Show to be held from March 23 to April 3 at Impact Muang Thong Thani in Nonthaburi province,” said Lavaron. “Those who reserve the car in the fair will be entitled to tax benefits and government subsidy valued at THB300,000 to THB400,000 per vehicle, depending on battery size and tariff rate.”
Lavaron added that the government has set aside THB3 billion for EV promotional campaign in the first year, and that the department expected the subsidy disbursement for this year will remain within the budget limit. “However, should the THB3 billion be used up before the year-end, we are positive that the Ministry of Finance will approve an additional budget as the campaign will benefit the country in the long term,” he added.